EVs became a meme for revolutionizing the car industry in a way people perceive will be as profound as Karl Benz first car or Ford Model T.
So naturally boys of every age want to be part of this movement and pump their savings (as well as their clients savings) into EV companies, even though manufacturing is a terrible business.
Everything market related it's about meme power of the story and meme power of the product, perception is very much reality. As I said boys love for cars starts at 2 and never ends, unfortunately very few dream about building an artificial heart or defeating parkinson or alzheimers, curating diabetes, solving cancer etc.
It's not just regular people actually. Boys love for toys trascends IQ, Feynman and Von Neumann loved the process of building the most deadly toy know to mankind (nuclear weapons) , but they both died fairly early due to cancer, and they both knew that cancer or cardiovascular disease would have been the thing which would have gotten them (much like any other human), but still they didn't feel compelled to do something about it, they decided to employ their time building toys instead.
Cars, rockets, missiles, planes, bombs , they all fall under the same umbrella of toys.
with cars being #1